2013 Highlights - Richardson Economic Development Partnership

REDP
2013 Year End Review
and
2014 Strategic Plan
February 24, 2014
“Home to the Telecom Corridor® area”
REDP Mission Statement
REDP, a joint effort of the City of
Richardson and Richardson Chamber of
Commerce, through the actions and
resources of its public and private
partners, shall work efficiently to create,
facilitate, and finalize projects and
programs which result in:
1.
2.
3.
4.
Enhanced tax revenues
Job opportunities
Greater positive image for the city
Enhanced quality of life for citizens
REDP
• Established 1984 - 30th year !
• A model city-chamber partnership
• Roles
– City sets broad goals and objectives
– Chamber develops and executes strategic plan
and tactical project management
• City-Chamber Coordination
– Weekly prospect/activity review meetings
– Daily communication on ED projects
– Aligned actions
Institutional Partners
•
•
•
•
•
•
•
•
•
•
SelectUSA
State of Texas/Governor’s Office ED&T/Texas One
Texas Workforce Commission
Oncor Electric
Dallas and Collin Counties
UT Dallas, Richland and Collin Colleges
DFW Marketing Team
Dallas Regional Chamber
REDP Advisory Committees
Many real estate, entrepreneurship groups, ethnic
chambers & friendly cities globally
2013 Major Highlights
• All-Time REDP record for Jobs & SF Occupied
• KDC/State Farm Campus & CityLine Development
• Associa
• Advocare
• Extend Health
• IQor
• United HealthCare
• 34 International Delegations
• Alamo Drafthouse Cinema Opening
2013 Highlights
New Development
KDC / State Farm Campus
Mixed-Use Development
• State Farm begins campus construction
• State Farm makes leases at Galatyn Park & Lakeside for 1.5 MSF
• CityLine brand announced by KDC and 4th office building
2013 Highlights
New Development
Advocare Builds Office/Distribution Complex
• Globally-prominent nutritional supplement company
• 260,000 SF on 35 Acres; Completion in summer 2014
• 100+ Employees
2013 Highlights
Re-Development
Associa Creates Shared Services Center
in repurposed 153,000 SF manufacturing building at 1225 Alma Drive
• Largest association mgmt. company in the US
• 500 to 600 Accounting & Customer Service personnel
• Latest technologies enable greater efficiency
• Company founded by State Senator John Carona in 1980
2013 Highlights
Re-Development
United HealthCare
repurposes 77,000 SF flex building 2220 Campbell Creek
into customer service center
• 800 employees in Medicare Supplement Insurance
• 4-acre land acquisition provided 6:100 parking
2013 Highlights
Re-Development
Extend Health
finds innovative parking solution to bring 1,600 jobs
• A Towers Watson firm - explosive growth in Medicare Supplement insurance
• City provides parking partnership, owner demolishes flex for more parking
• Rejuvenated office building at 250 E. Arapaho now 100% occupied
2013 Highlights
Re-Development
Equita Financial
Developer Ken Good invests $1 million in Richardson
• 75,000 SF building struggling with deferred maintenance
• City provides gain-sharing incentive
• Renewed building attracts Equita Financial, now over 80% occupied
2013 Highlights
Relocation
IQor
700-employee BPO company cites DART for decision to locate in Richardson
• NYC-based firm offers a variety of BPO services
• Customers include Samsung Telecom, Pizza Hut
• Post-occupancy, IQor estimates 20% of workforce relies on DART
2013 Highlights - Relocation
• New Digital Realty 122,000 SF data center at 950 E. Collins leased
to an unnamed Internet company
• The 17th of Richardson’s data centers - Now total 1.6 MSF
Richardson Project Results
2008-2013
Year
2008
2009
2010
2011
2012
2013
Previous
5-Year
Average
R/E/S/R
*
23
27
28
34
49
34
32.2
Jobs**
3,760
2,694
1,918
5,948
5,512
11,278
3,966
Million
SF Occ.
0.64
0.76
0.63
1.60
1.92
3.1
1.11
* - number of relocation, expansion, start-up, retention projects
** - new, announced, or net retained – not including State Farm
Office Net Absorption 2013
Richardson vs. Competitors
City
Net
Total Available
Absorption
SF
(MSF)
(000 SF)
(MSF)
Vacancy
%
Average
$Rate/SF
Richardson
646
17.9
3.5
18.9
18.74
Plano
932
29.9
3.6
9.4
24.14
Irving
577
34.8
5.5
14.5
23.60
Frisco
96
4.8
0.4
4.7
26.57
Allen
51
2.2
0.2
8.6
19.60
McKinney
224
4.8
0.5
9.1
23.79
Source: CoStar, 2011
* Collin Tech Park totals 802,491 SF
Source: CoStar, Feb. 2014
Flex Net Absorption 2013
Richardson vs. Competitors
City
Net
Total Available
Absorption
SF
(MSF)
(000 SF)
(MSF)
Vacancy
%
Average
$Rate/SF
Richardson
123
9.1
2.1
19.5
10.31
Plano
278
5.6
1.0
12.0
8.12
Irving
6
9.3
1.3
11.7
8.90
Frisco
69
0.3
0.02
0.7
7.00
Allen
2
1.0
0.2
5.1
6.65
McKinney
7
1.4
0.1
2.9
11.55
Source: CoStar, 2011
* Collin Tech Park totals 802,491 SF
Source: CoStar, Feb. 2014
2013 Highlights – Retention
Mayor’s Lunch and Large Employer Visits
Hitachi Communications
Mobile Comm
Taqua
Calix
Triune Systems
InnerWireless/Black Box
Suntronic
Mavenir Systems
ZTE
Vox Technologies
Go Industries
Genpact
SSG, Ltd.
AT&T
Blue Cross & Blue Shield
Fujitsu Network Communications
Samsung Mobile
Lennox International
Texas Instruments (RFAB)
Cisco Systems
United Healthcare
Fossil Inc.
Rockwell Collins
MetroPCS/T-Mobile
Digital Realty
2013 Highlights – Retention
EDGE
(Economic Development, Growth & Expansion)
Retention visits
Benning Power
Black Box
Delta GreenTech
Fox Micro
Optex Systems
Mavenir
InterLegis
Impiger Mobile
One Ring Networks
IQor
Dongah Elecomm
HR Smart
GXA Network Access
Metaswitch
50+ EDGE visitations in 2013
Rebranding of B&I Awards to promote Richardson EDGE brand
KBM Group
2013 Highlights – Retention
and Entrepreneurship
Richardson Economic Gardening Network
“2nd Stage Entrepreneurial Companies” comprise about 11.6%
of all US establishments but create 33% of all new jobs – Lowe
Foundation research for 1995-2012
2nd Stage Entrepreneurial Companies have 10 to 100
employees and $1 million to $50 million in revenues
REDP pilot program involves Richardson 2nd Stage companies
Convey Computer, Polytronix, Entouch Controls, Triune
Systems and InnerWireless
2013 Highlights
Entrepreneurship
REDP Entrepreneurship Advisory Committee
Developing Richardson’s 2.0 Entrepreneurship Strategy
Co-Chairs: Bill Sproull, Dan Johnson
Consultant: Larry Calton, Churchill-Terry (former NTEC)
Jim von Ehr – Zyvex
George Brody – GlobeRanger
Bruce Gnade – UTD
Greg Fasullo – Entouch Controls
Jackie Kimzey – UTD
Paul Peck – Weathermatic
Mark Denissen – TI
Paul Nichols – Cirasys Inc.
Chuck Abraham – OraMetrix
Mike Moses – SSG, Ltd.
2013 Marketing & Positioning
• Dallas Business Journal Deal of the Year: State Farm
•Best Land Deal: KDC/State Farm
•Suburban Office Deal: State Farm
•Rehab/Reuse: Digital Dallas
• Telecom Corridor® designated an “Area of Innovation”
by International Association of Science Parks (IASP)
• Received IEDC Silver Award for Responding to
Globalization
• Ranked a Top 10 Microcity by fDi Magazine
• “Telecom Corridor” most searched term on website;
157 known Google searches in 2013
2013 Headlines
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2013 Business Survey
• 56 responses from 23 different industries
• 67.9% of respondents been in Richardson over
10 years
• 3.7 out of 5 pro-business rating
• Best thing about doing business in Richardson:
location within Metroplex, access to airport,
workforce, diversity, Richardson Chamber of
Commerce, community
• Challenges: signage, older infrastructure,
utilities costs
• 28.6% respondents planning to add headcount
in next year
2013 Highlights – City Retail Study
& Marketing Strategy
Plano Road
Catalyst Commercial completes Retail Study/Marketing Strategy
Trade Area Analysis for 3 key corridors:
- Coit Road Corridor
- Belt Line/Plano Road Area
- Main St/South Central Expressway Corridor
Belt Line
2013 Highlights
Alamo Drafthouse Cinema Opens!
BEFORE
AFTER
2013 Highlights
New Restaurants
Selected New Restaurants opened in 2013
Haystack
Burgers &
Barley
Kampong
Vitality
House Cafe
Shady’s
Kinado Sushi & Bar
Apollonia’s Italian Kitchen
Pho Crimson
2013 Highlights
Redevelopment Opportunities
Sale and redevelopment of former
Furr’s Cafeteria
Sale and redevelopment of
former Albertson’s
Site Plan Concepts
2013 Highlights
Redevelopment Opportunities
1050 N. Central Expressway
2013 Highlights
International
• Conducted economic development trips
• Mobile World Congress (Barcelona, Spain) - Provence & Cote D’Azur France
• IASP Conference (Recife, Brazil) - Rio de Janeiro, Brazil
• SelectUSA Investment Conference (Washington DC)
• Hosted 34 international delegations from 30 different countries
• Hosted 2 foreign Ambassadors to the U.S. (Tanzania, Rwanda)
• Hosted reception for France delegation at Eisemann CTR
• Signed MOU with Provence Promotion for FDI cooperation
• Conducted 2 events at UT Dallas for international students
• Recruited 3 companies via Concierge Program members
• iTraff (Polish startup software company)
• JDM Source (Canadian auto parts company)
• Lintec (Japanese nanotechnology company)
2013 Highlights
International
Joined International Association of Science Parks and
Areas of Innovation (IASP)
Received Silver Award of Excellence by IEDC for
Globalization Preparedness
Ranked 3rd by fDi Magazine - Micro City of the Future in
Americas – FDI attractiveness 2013-2014
2013 Highlights
International
Richardson International Business Center
Leased 36,300 SF at a newly remodeled 1100 W. Executive Drive
Incubator for International Companies
2013 Highlights
RCC Programs Linked to REDP Goals
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EDGE Awards Luncheon
Broker & Developer Luncheon series
Growth & Mobility Luncheon series
Human Resource Committee
Technology Advisory Group (REDTAB)
Real Estate Advisory Group (REAL)
Retail Consulting Group (RECON)
Mayor’s Office of international Business Advisory
Richardson Young Professionals
Legislative Agenda – Cotton Belt
2013 Highlights
MTBC Programs Linked to REDP Goals
• Tech Titans ( networking/prestige for many
Richardson companies/leaders)
• Technology Luncheon series (Richardson venues)
• TechQuest Program
( Ericsson, Raytheon, Alcatel-Lucent, Tektronix, Texas Instruments)
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•
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Innovation Team activities (VCs, entrepreneurs)
Cloud Computing Special interest Group
Talent Team (STEM in RISD)
Advocacy Team (enhancing UTD drive to Tier I)
2013 Highlights
REDP Support for City Projects
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Supported E Arapaho/Collins Flex Study
Supported Main Street/75 Corridor Study
Promoted W. Spring Valley development options
Promoted Cotton Belt via Growth & Mobility Comm.
Supported City’s Retail Committee
Added Richardson vendors for City’s Procurement
Provided key data for City’s Bond Rating Book
Promoted Dine Smart Dine Local
Provided international liaison services
2014 REDP Strategic Plan
“Attract & Retain Targeted Companies”
• Recruitment
• Retention
• Entrepreneurship
• Technology Branding
•
International
•
Redevelopment
•
Retail
•
Workforce Development
• Recognition/Awards
Richardson Economic
Development Partnership
972.792.2800
www.telecomcorridor.com

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